The Organization of Petroleum Exporting Countries and its allies will no longer use oil data from the International Energy Agency to assess compliance with production quotas amid a deepening rift Continue Reading
OPEC’s Joint Technical Committee has revised its estimates for Q1 supply and demand. In the Committee’s estimation, the supply surplus has shrunk to 600,000 bpd, versus its previous estimate of Continue Reading
Gulf oil producers slam hypocritical attitude towards fossil fuels. The UAE and Saudi Arabia look to boost production capacity this decade. OPEC has its priorities, and it is sticking to Continue Reading
The unprecedented financial sanctions imposed on Russia after its invasion of Ukraine threaten to gradually dilute the dominance of the US dollar and result in a more fragmented international monetary Continue Reading
Oil Pares Losses After Dipping Below $100 OPEC and its allies are expected to rebuff calls this week to fill in the supply gap left by falling oil exports from Continue Reading
OPEC+ will likely stick to plans for a modest increase in oil output in May, several sources close to the group said, despite a surge in prices due to the Continue Reading
U.S. President Joe Biden said he thinks Russia should be removed from the Group of Twenty (G20) major economies and the topic was raised during his meetings with world leaders Continue Reading
OPEC: EU oil embargo on Russia to hurt consumers. OPEC+ and OPEC have not officially commented on the Russian invasion of Ukraine. Nothing is off the table about additional EU Continue Reading
Over the past 120 years, a Beirut bakery has survived civil war, Lebanon’s financial crisis and the Covid-19 pandemic. Fighting in Ukraine , disrupting food and energy supplies world-wide, may Continue Reading
Russia’s invasion of Ukraine has sent oil prices soaring and could soon deprive oil markets of more than four million barrels of Russian oil. For decades, OPEC has been looked Continue Reading
